Tegna Inc Stock Price, News & Analysis

TEGNA Inc. (NYSE: TGNA) has confirmed receipt of acquisition proposals, and its Board will review these proposals in alignment with its fiduciary duties to shareholders. The company operates 64 television stations across 51 markets, reaching about 39% of U.S. television households. TEGNA is known for its impactful storytelling, innovative marketing solutions, and owns multicast networks like True Crime Network and Quest. Risks associated with these potential acquisitions include market volatility and uncertainties in execution.

TEGNA Inc. (NYSE: TGNA) has launched the Quest streaming app, a free, ad-supported service providing on-demand adventure and exploration programming. The app features a diverse catalog including factual entertainment and reality series, accessible on various platforms like Roku and Fire TV. Highlighted programs include The Aviators and Aussie Gold Hunters, with more content expected. This release follows the previous launch of the True Crime Network streaming app, reflecting TEGNA's commitment to innovative entertainment offerings.

TEGNA Inc. (NYSE: TGNA) announced the acceleration of its $300 million share repurchase program, now expected to conclude by the end of 2022, a year earlier than originally planned. This decision is supported by robust free cash flow and the achievement of leverage targets. CEO Dave Lougee highlighted strong performance trends in high-margin subscription and political revenue, with the outlook for 2022's political revenue appearing optimistic. The Board is also considering a new buyback program post-completion, further indicating commitment to enhancing shareholder value.

TEGNA Inc. (NYSE: TGNA) is set to host a conference call on November 4 at 9:00 a.m. (ET) to discuss its Q3 2021 earnings. The earnings announcement will be available before market opens on the same day. Investors can join the call by dialing 888-204-4368 or listen to a live webcast on TEGNA's website. A replay will be accessible from 1:00 p.m. on November 4 until 1:00 p.m. on November 18. TEGNA operates 64 television stations across 51 markets, reaching approximately 39% of U.S. households.

NEXTGEN TV has launched in Atlanta, uniting five local TV stations to enhance viewing experiences with superior audio and video.

This service, designed to upgrade broadcast television, features stunning 4K video and Dolby audio. Available via major retailers, NEXTGEN TV promises added voice clarity and seamless integration with internet content.

Viewers can access channels including WPCH, WGCL, WSB, WAGA, and WXIA, benefiting from improved experiences without competing for bandwidth with other services.

KARE 11, a prominent television station in Minneapolis, received two National Edward R. Murrow Awards on August 17, 2021. The awards were for Breaking News Coverage and Video Excellence. The Breaking News award recognized KARE 11's impactful coverage of the Minneapolis unrest following George Floyd’s murder, featuring extensive on-air reporting by anchors Julie Nelson and Randy Shaver. The Video Excellence award highlighted a feature story about a unique friendship between a Minnesota woman and a sunfish, showcasing the work of reporter Boyd Huppert and photojournalist Chad Nelson.

KARE 11 has appointed Reggie Wilson as the new Sports Director, effective September 20, 2021. Wilson, an award-winning sports anchor, has previously worked in Ohio, Missouri, and Kansas, leading the Cincinnati sports talk show Sports of All Sorts. He will join KARE 11's team to anchor weekday broadcasts at 6 PM and 10 PM and report from the field. KARE 11 President Bill Dallman expressed confidence in Wilson's capabilities, highlighting his journalistic skills in covering teams in the Twin Cities and Western Wisconsin. Wilson is eager to engage with the local community.

TEGNA reported second quarter 2021 results with total revenue reaching $733 million, a 27% increase year-over-year, driven by record subscription and advertising revenue. Subscription revenue was $375 million, up 16%, while AMS revenue soared 49% to $341 million. The company achieved net income of $107 million and record Adjusted EBITDA of $228 million. TEGNA raised its two-year free cash flow guidance and expects strong performance in upcoming quarters, despite challenges in the auto advertising sector due to supply chain issues.